Number of Haircuts Marginal Marginal Revenue Hairdressers per Day Product Product 1 8 N 16 3 23 4 29 5 34 6 38 Q31. Refer to the above table. The Hair Cuttery, a new hair salon, is ready to start hiring. The table above shows the relationship between the number of hairdressers the firm hires and the quantity of haircuts it produces. Suppose the price of haircuts is $8. Complete the table by filling in the values for a. marginal product and marginal revenue product. Show your work. (2pts) The Hair Cuttery is an input price-taker. Suppose the wage paid to hairdressers is $40 per b. day. What is the profit-maximizing number of hairdressers? Briefly explain your reasoning. (2pts) Suppose the wage rate is $60 per day and the price of haircuts is now $10. C. (4 pts) What happens to the firm's demand curve for (i) hairdressers? Briefly explain. What happens to the profit-maximizing quantity of (ii) hairdressers? Briefly explain your reasoning. MacBook Pro